The Hindu Business Line : Wednesday, November 09, 2005

Credit Suisse opens subsidiary in India
CREDIT Suisse, a global financial services provider, opened its subsidiary Credit Suisse Consulting (India) Ltd here on Monday. The subsidiary, which is being set up as a non-banking financial company, will provide financial advisory and ... More

INSIGHT

Basle II norms: Challenge and opportunity for Indian banks
THE traditional face of banks as mere financial intermediaries has changed because of the paradigm shifts from balance-sheet to off-balance-sheet intermediation, from capital adequacy to capital efficiency, and pure ... More

ECONOMY

Governance the key issue
One wishes the globalisers and reformers ask our Government to first emulate the best governance models. More

FOREX

Exporters revert to dollar invoices as euro weakens
With US interest rates hardening and international oil prices remaining firm, the dollar is expected to continue to advance against other major currencies and the rupee. As a result, bankers have advised some exporter-customers to shift their outstan ding invoices to dollars. More

Rupee recovers; securities weak
MUMBAI: The rupee recovered some of its recent losses on Tuesday against the greenback after breaching the psychological level of 46, on the back of dollar supply. The domestic unit opened at 45.98-46 and touched an intra-day low of ... More

FINANCIAL PERFORMANCE

City Union Bank's Q2 net up despite higher provisioning
CITY Union Bank (CUB) has reported a net profit of Rs 12.44 crore for the second quarter of the current year, 35 per cent higher than Rs 9.21 crore in the corresponding period of last year. This has been achieved despite the provisions doubling ... More

Indian Bank makes `quality' net profit of Rs 242 cr in H1
INDIAN Bank made a net profit of Rs 242 crore for the first half of the current year — the first `quality' net profit in a decade, because it is more than the interest earned on recapitalisation bonds. At a press conference here today, ... More

PRIVATE BANKS

City Union Bank likely to come out with public issue
THE Chairman of the City Union Bank, Mr S. Balasubramanian, today hinted at a possibility of the bank coming out with a public issue. At a press conference held to announce the bank's half-yearly results, he said the bank was exploring options ... More

PUBLIC SECTOR BANKS

Union Bank targets 11.5% CAR post-public issue
UNION Bank of India hopes to achieve a capital adequacy ratio of 11.5 per cent after it completes its follow-on public issue, slated for later this year. The bank, which plans to issue 4.5 crore shares to the public, has already sought the ... More

FINANCIAL INSTITUTIONS

Exim Bank extends LoC to Fiji Sugar
THE EXPORT-IMPORT Bank of India (Exim Bank) has, at the behest of the Government of India, extended a Line of Credit (LoC) of $50.40 million to the Fiji Sugar Corporation Ltd, Fiji Islands. As per the agreement, Exim Bank will reimburse 100 per ... More

FIXED DEPOSITS

PNB hikes interest rates on NRE, FCNR deposits
NEW DELHI: Punjab National Bank (PNB) has raised interest rates on its FCNR deposit schemes for the dollar, pound and euro with effect from November 5. It also increased the rates on NRE term ... More

Karnataka Bank revises interest rate on NRE, FCNR deposit
MANGALORE: Karnataka Bank Ltd has increased interest rates on its NRE and FCNR (B) deposit schemes with effect from November 2, says a bank release ... More

EVENTS

John Snow for opening up of banking sector
THE US Treasury Secretary, Mr John Snow, has called for opening up of India's banking and financial sectors. Referring to his meeting with officials at the Reserve Bank earlier in the day, he said the officials talked about a `road map' that ... More

Co-op Week celebrations at Kottayam on Nov 14
KOTTAYAM: The 52nd All India Cooperative Week will be inaugurated here at the state-level on November 14. A variety of programmes, including a seminar, procession, delegates conference, public meeting and so on will mark the event. Mr ... More

SOCIETY & DEVELOPMENT

Food distribution vehicle to Akshaya Patra Foundation
MANGALORE: The Chairman and Managing Director of Corporation Bank, Mr V.K. Chopra, handed over a food distribution vehicle to Akshaya Patra Foundation — a charitable organisation of Bangalore - in Bangalore recently. A bank ... More

CO-OPERATIVES

Co-op bank union for early adoption of panel suggestions
COIMBATORE: The All India Cooperative Bank Employees Federation has sought the early implementation of the Vaidhyanathan Committee recommendations for revitalising the agricultural co-operative banks. A 10-member team met the UPA ... More

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